10:04 AM EST, 12/05/2024 (MT Newswires) -- Entegris ( ENTG ) and the US Department of Commerce said Thursday they have signed an agreement for up to $77 million in funding to the company under the CHIPS and Science Act.

The funding, which will be awarded in installments based on milestones, will support the company's new manufacturing center in Colorado Springs set to start operations next year, according to a joint statement.

Shares of the company were down 1.5% in recent Thursday trading.

Price: 108.47, Change: -1.63, Percent Change: -1.48